Egypt's President Abdel-Fattah El-Sisi has demanded to offer citizens, who own rickety vehicles, an appropriate cash incentive to encourage them to replace their vehicles with new ones that run on natural gas, as part of the country's broader plan in this respect.
With the aim of preserving the environment and making use of the country’s plentiful natural gas production, the Egyptian government plans to scrap old and rickety cars manufactured over 20 years ago and replace them with new ones running on natural gas, as well as to convert hundreds of thousands of vehicles to gas-powered models.
Financing programs have been launched by the government to help the owners of these obsolete cars, whether private cars, taxicabs, or microbuses, in the conversion and replacement process.
Earlier in November, El-Sisi instructed the government to take further steps in motivating citizens to convert their gasoline-powered vehicles to natural gas-operated ones by simplifying the conversion procedures and facilitating its expenses.
To follow up on the plan, El-Sisi met on Thursday with Prime Minister Mostafa Madbouly, Governor of the Egyptian Central Bank Tarek Amer, Petroleum Minister Tarek El-Molla, Finance Minister Mohamad Maait, Trade and Industry Minister Nevine Gamea, among others.
The president called for organising an integrated exhibition — with the participation of major international automotive companies — for those wishing to convert or replace their old cars, Presidential Spokesman Bassam Rady said.
The exhibition should feature cutting-edge potentials in this respect to solve all technical matters of concern to vehicles' owners, El-Sisi ordered.
The president urged the meeting’s attendees to intensify awareness campaigns on the benefits resulting from using natural gas, especially in terms of rationalising gasoline consumption, and preserving the environment.
The Egyptian strategy focuses mainly on microbuses and taxis.
Egyptian officials have earlier said that each vehicle will be converted with a total cost ranging from EGP 8,000 and EGP 12,000 (approximately $500 to $750), and the cost could be funded by small-interest loans.
They added that using natural gas as an alternative fuel saves up to EGP 1,200 (approximately $75) a month for vehicle owners.